You work in the Finance Department for Ritter Inc. and you have been instructed to conduct financial planning for the next year to estimate the possible need for new funds based on the assumptions and accounting data below. Assumptions Growth in Sales Tax Rate 5.50% 21.00% Income Statement Balance Sheet Sales 160,000 Current Assets 13,000 Costs 120,000 Fixed Assets 75,000 EBIT 40,000 Total Assets 88,000 Interest 992 EBT 39,008 Current Liab 12,800 Taxes 8,192 Debt 31,000 Net Income 30,816 Equity 44,200 Total Liab & Eq 88,000 Dividends 29,250 You are to assume that costs, current assets, fixed assets and current liabilities will all vary as a percent of sales based on the current figures. Assume that debt and interest expenses will remain constant. Also, assume the firm will not issue or retire any Stocks and that dividends will remain at their current level. Do not round intermediate calculations and round your onswers to the single digits place, e.g. 13276) What is the estimate for equity for next year? $ 47515 What is the estimate for the new funding required for next year? $ A positive number means the firm requires new funding and a negative value that the firm will generate excess cash based on these policies